27 Jun 2012 13:52

TAIF considering IPO for TAIF-NK oil complex

KAZAN. June 27. (Interfax) - OJSC TAIF is considering the possibility of an initial public offering (IPO) for its 100% subsidiary OJSC TAIF-NK, TAIF's General Director Albert Shigaboutdinov said at a Wednesday press conference.

TAIF would expect to raise up to $1.5 billion from an IPO and is considering both Russian and international stock exchanges for the placement. It will use the funds to finance the construction of a deep oil refining complex.